Glenrand M.I.B Limited -
Glenrand M.I.B Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
Share Code: GMB ISIN : ZAE000018529
("Glenrand M.I.B")
Announcement to shareholders
Shareholders are referred to the announcement dated 29 September 2003 referring
to the matter between Lappeman Diamond Cutting Works (Proprietary) Limited
("Lappeman"), M.I.B Group (Proprietary) Limited ("M.I.B") and Glenrand M.I.B
Limited in which it was advised that following upon the dismissal of Lappeman"s
appeal by the Supreme Court of Appeal of South Africa, the issues previously
reported on in relation to Lappeman"s claim had been concluded.
Lappeman subsequently applied to the Constitutional Court of South Africa for
special leave to appeal against the decision of the Supreme Court of Appeal of
South Africa. This application has been dismissed.
Lappeman has also given notice of the enrolment in the High Court of South
Africa (Johannesburg) in respect of the issues not previously adjudicated upon
by the courts. This allows Lappeman to pursue its additional claim, based upon
M.I.B"s alleged failure to disclose a potential loss arising from diamonds
allegedly stolen and the consequent avoidance of the 1990/91 policy by Lloyds of
London. The Court has allocated 3 August 2004 for commencement of this.
A further announcement will be made to shareholders of any significant
developments regarding the above claim.
Johannesburg
14 November 2003
Date: 14/11/2003 04:03:03 PM Supplied by www.sharenet.co.za
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